The company plans to pay a final dividend of 3 cents, bringing full year payout to 9 cents, equivalent to a payout ratio of 128% given FY2023 EPS of 7.03 cents
“The sudden and sharp slowdown in the global semiconductor industry, together with rising costs for everything from materials to manpower and energy, exerted significant pressure on the Group’s top and bottom line performance in FY2023," says CEO Chris Borch, who founded the company 40 years ago.
"Looking ahead to FY2024, we will continue our strategy to grow the group’s core businesses by maintaining a strong and unrelenting focus on the value we bring to our customers, while building sustainable, competitive advantages through repeatable, scalable and cost-effective manufacturing processes," he adds.
Micro-Mechanics shares last traded at $1.82, unchanged for the day and down 30.53% year to date.
